The LCV Group has been acquired by Global Vans, a subsidiary of Crownhawk Properties, for an undisclosed sum. This strategic move follows Global Vans’ acquisition of leasing firm XLCR last year, establishing a “super broker” focused on car and van leasing for small and medium-sized enterprises (SMEs).
The LCV Group, formerly known as Low Cost Vans, will integrate with XLCR and Global Vans to form the Global Vehicle Group. The new entity aims to be a tech-enabled leasing broker specializing in SMEs. Despite the consolidation, the individual businesses will retain their existing management teams, brands, and identities.
Rod Lloyd, Managing Director of The LCV Group, will consult with the executive board of the Global Vehicle Group, led by CEO Andrew Hurst. The deal also includes the acquisition of TR Fleet, a specialist fleet management consultancy.
Lloyd expressed his enthusiasm about the acquisition, stating, “I’ve known Andrew and the XLCR business for a long time and, when we spoke about the LCV Group becoming part of the Global Vehicle Group, I knew LCV would be in safe hands and they would invest to facilitate further growth. It’s a fantastic opportunity and LCV will remain as a strong brand within the new group. I’m excited to see what the future brings.”
Global Vans, founded in Bristol in 2002, now operates offices in Hemel Hempstead and Cardiff. Hurst described the acquisition as a valuable partnership. The company is striving to become the UK’s leading tech-enabled broker for SMEs in the LCV and car markets, including vehicle electrification, insurance, and ancillary products.
